Chaplia Pavlo, PhD Student, Taras Shevchenko National University of Kyiv, Kyiv, Ukraine

ORCID ID: 0009-0005-8406-737X
e-mail: pashachaplia@gmail.com

Electronic Money in Enterprise Settlements: State Supervision and Control

Abstract. Introduction. The article examines theoretical, legal, and practical aspects of electronic money (e-money) in enterprise payment systems, with attention to state supervision and regulatory control in Ukraine. In the era of rapid digital transformation, e-money is viewed not only as a technical tool but also as an economic and legal instrument influencing payment infrastructure, accounting, and financial stability.

Purpose. The study aims to systematize the legal definitions of e-money under Ukrainian law, especially the Law “On Payment Services” and National Bank of Ukraine (NBU) regulations, and to evaluate its impact on business operations and compliance.

Results. The research identifies main types and forms of e-money, their benefits (transaction speed, cost efficiency), and risks (fraud, weak consumer protection, regulatory gaps). Practical cases show its use in B2B, B2C, payroll, and e-commerce. Accounting challenges are analyzed in terms of asset recognition, tax reporting, internal control, and alignment with international standards. The analysis of institutional oversight highlights weak interagency coordination, fragmented legislation, and insufficient digital monitoring. Recommendations include harmonization with EU directives (PSD2, AMLD), a centralized wallet registry, real-time monitoring, and digitalized data exchange.

Conclusions. The paper proposes strategic steps for enterprises: aligning policies with legal norms, adopting secure payment tools, and building digital resilience through e-money. These actions are key to compliance, risk reduction, and competitiveness in digital finance.

Keywords: electronic money; state control; payment services; National Bank of Ukraine; enterprise; accounting; financial supervision; digitalization.

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